I've got this Wired Zapper Class Mod:
It is described as giving the following bonuses: Electrocute Damage +29%, Chance to Shock +29%. The Borderlands Wiki gives the same description for the Zapper Class Mod.
I understand 'Shock' to mean damage on hit by a shock weapon and 'Electrocute' to mean the damage-over-time (DoT) effect that has a chance to trigger upon being hit by a shock weapon. I based this on the description of the skills in the Little Big Trouble skill tree, which differentiate between Shock and Electrocute damage.
If the above is correct, then 'Chance to Shock +29%' doesn't make sense as shock damage doesn't have a "chance to trigger" (it always does damage). This makes more sense if it's 'Chance to Electrocute'.
What is the actual effect of this class mod? Does it add to Electrocute damage or Shock damage? Does it increase the chances of Shock damage or Electrocute damage?